Leah Price will serve as lead for Better's tech as it heads to market — and company takes aim at ICE’s Encompass platform
Digital mortgage and homeownership company, Better.com, has hired former Federal Housing Finance Agency (FHFA) fintech and AI chief Leah Price to lead its Tinman AI Platform as Better moves to offer the technology to lenders nationwide. Price’s new title is Vice President, Tinman AI Platform.
At FHFA, Price led the Office of Fintech and the Office of the Chief AI Officer. She was “a driving force” behind establishing the agency “as a forward-thinking leader on GenAI in the mortgage industry and among regulatory peers,” according to Better.
The company’s mantra: “Making homeownership simpler, faster — and most importantly, more accessible.”
Price’s “expertise at the intersection of regulation and innovation will be instrumental as we advance our mission to deliver smarter, faster, AI-powered solutions to the market,” Better noted in a post on LinkedIn.
Better’s Tinman is an AI-driven, automated decision engine and software platform designed to connect and optimize mortgage origination and homeownership services to deliver an end-to-end solution for customers, the company explained.
Get the NMP Daily
Essential stories, every weekday.
The software platform and engine include a point-of-sale system, CRM system, pricing engine, document engine, loan origination software, and underwriting calculation engine.
Vishal Garg
Vishal Garg, CEO and founder of Better.com, contended that Tinman has automated time and labor-intensive portions of the mortgage process and reduced Better Mortgage’s costs to originate by more than 40% compared to the industry average.
“Our loan officers have compressed a staggering 80% of their back-office costs using our platform,” Garg emphasized. He said Price is “a recognized leader” who will help “bring our disruptive technology to market, allowing other lenders to realize those same benefits for themselves.”
According to Better, the Tinman platform empowers consumers and will give local mortgage brokers and banks the tech to serve their customers at scale. “A large addressable market exists within the mortgage ecosystem for the holistic one-stop software solution powered by Tinman,” according to Better, which noted that more than five million mortgages were built on ICE Mortgage Technology’s Encompass platform last year.
“Lenders of all sizes can now harness the speed, efficiency, and automated risk management capabilities that previously were exclusive to the industry's largest, most tech-savvy lenders,” Price contended regarding Better’s technology. “We’ve reached a pivotal moment in the history of technology, and Tinman is leading the charge in the mortgage industry.”
Prior to serving at FHFA, Price was Vice President of Lending Ecosystem for Figure Technologies, which specializes in using technology to streamline financial services, particularly in lending and capital markets. She also led a technology distribution team and development of the Day 1 Certainty program at Fannie Mae.
Day 1 Certainty aims to give lenders confidence in the integrity of a loan file and reduce the risk of loan repurchase.
Price additionally served at the Mortgage Bankers Association’s MISMO (Mortgage Industry Standards Maintenance Organization) as a senior advisor and co-chair of the Emerging Technology Community of Practice.
Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates
The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...
The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings
The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...
The startup emerged from stealth with $5.1 million after acquiring Hightide Mortgage, and growing from eight to roughly 40 LOs, betting AI can change the economics of the brokerage model
Benchmark Mortgage is shifting its resources to retail after closing Eleven’s wholesale and correspondent operation, while brokers face questions over loans already underway
Deal brings technology touching nearly 1 in 10 mortgage originations into an ecosystem that already includes Envoy Mortgage and a growing roster of real estate services
Proxy advisers split over the founder’s campaign to remove five directors as Better tries to preserve his AI strategy without restoring his control — and without the executive hired to lead Tinman’s expansion
